Method and apparatus for provision of a virtual card having a persistent primary account number

Abstract

A method of processing communications and actions of parties to a transaction may include receiving a request from a customer to use a virtual card to affect the transaction with a vendor or merchant. The virtual card may have a persistent primary account number (PAN) that enables the virtual card to be used for obtaining financing for multiple transactions without changing the persistent PAN. The method may further include facilitating payment of the vendor or merchant on behalf of the customer in response to the request, establishing a loan for the customer based on the transaction, and facilitating servicing the loan based on an activity of the customer after the loan is established.

That which is claimed: 
     
         1 . An apparatus for issuing a virtual card based on communications and actions of parties to a transaction, the apparatus comprising processing circuitry configured to:
 receive a card request from a customer to be issued the virtual card, the virtual card having a persistent personal account number (PAN) that enables the virtual card to be used for obtaining financing for multiple transactions without changing the persistent PAN;   provide a graphical interface at a client device to set up a customer account for the virtual card based on the card request; and   issue the virtual card with the persistent PAN to the client device of the customer by providing instructions to the client device for graphical display of the virtual card at the client device;   facilitate payment of a vendor or merchant on behalf of the customer in response to a request to initiate a financial transaction using the virtual card;   establish a loan for the customer based on the financial transaction; and   facilitate servicing the loan based on an activity of the customer after the loan is established.   
     
     
         2 . (canceled) 
     
     
         3 . (canceled) 
     
     
         4 . The apparatus of  claim 1 , wherein setting up the customer account comprises receiving a selection of a payment plan to associate with the loan, and receiving a selection of a repayment method for making payments on the loan. 
     
     
         5 . The apparatus of  claim 4 , wherein the selection of the payment plan and the selection of the repayment method are defined as default settings to be presented visually to the customer at the client device prior to each subsequent transaction financed via the virtual card. 
     
     
         6 . The apparatus of  claim 5 , wherein, prior to authorizing each subsequent transaction after a first transaction using the virtual card and the persistent PAN, the customer is prompted to accept the default settings. 
     
     
         7 . The apparatus of  claim 5 , wherein, prior to authorizing each subsequent transaction after a first transaction using the virtual card and the persistent PAN, the customer is prompted to define an update to one or both of the payment plan and the repayment method. 
     
     
         8 . The apparatus of  claim 1 , wherein the processing circuitry being configured to facilitate servicing of the loan comprises the processing circuitry being configured to:
 receive an indication of a refund for a returned product;   attempt to determine a corresponding transaction and corresponding loan to the returned product; and   apply the refund to the corresponding loan in response to successfully determining the corresponding loan.   
     
     
         9 . The apparatus of  claim 8 , wherein attempting to determine the corresponding transaction comprises comparing a list of stored merchant identities from past transactions to a refunding merchant identity to determine a match between one of the stored merchant identities and the refunding merchant identity. 
     
     
         10 . The apparatus of  claim 9 , wherein attempting to determine the corresponding transaction further comprises, in response to determining the match, determining if multiple transactions occurred for the refunding merchant identity to:
 if not, apply the refund to the corresponding loan, and   if so, provide a refund check or refund credit to the customer.   
     
     
         11 . A method of preeessing-issuing a virtual card based on communications and actions of parties to a transaction, the method comprising:
 receiving a card request from a customer to use the virtual card to affect the transaction with a vendor or merchant, the virtual card having a persistent personal account number (PAN) that enables the virtual card to be used for obtaining financing for multiple transactions without changing the persistent PAN;   providing a graphical interface at a client device to set up a customer account for the virtual card based on the card request; and   issuing the virtual card with the persistent PAN to a client device of the customer by providing instructions to the client device for graphical display of the virtual card at the client device;   facilitating payment of the vendor or merchant on behalf of the customer in response to the request;   establishing a loan for the customer based on the transaction; and   facilitating servicing the loan based on an activity of the customer after the loan is established.   
     
     
         12 . (canceled) 
     
     
         13 . (canceled) 
     
     
         14 . The method of  claim 11 , wherein setting up the customer account comprises receiving a selection of a payment plan to associate with the loan, and receiving a selection of a repayment method for making payments on the loan. 
     
     
         15 . The method of  claim 14 , wherein the selection of the payment plan and the selection of the repayment method are defined as default settings to be presented visually to the customer at the client device prior to each subsequent transaction financed via the virtual card. 
     
     
         16 . The method of  claim 15 , wherein, prior to authorizing each subsequent transaction after a first transaction using the virtual card and the persistent PAN, the customer is prompted to accept the default settings. 
     
     
         17 . The method of  claim 15 , wherein, prior to authorizing each subsequent transaction after a first transaction using the virtual card and the persistent PAN, the customer is prompted to define an update to one or both of the payment plan and the repayment method. 
     
     
         18 . The method of  claim 11 , wherein facilitating servicing of the loan comprises:
 receiving an indication of a refund for a returned product;   attempting to determine a corresponding transaction and corresponding loan to the returned product; and   applying the refund to the corresponding loan in response to successfully determining the corresponding loan.   
     
     
         19 . The method of  claim 18 , wherein attempting to determine the corresponding transaction comprises comparing a list of stored merchant identities from past transactions to a refunding merchant identity to determine a match between one of the stored merchant identities and the refunding merchant identity. 
     
     
         20 . The method of  claim 19 , wherein attempting to determine the corresponding transaction further comprises, in response to determining the match, determining if multiple transactions occurred for the refunding merchant identity to:
 if not, apply the refund to the corresponding loan, and   if so, provide a refund check or refund credit to the customer.   
     
     
         21 . The apparatus of  claim 1 , wherein setting up the customer account comprises generating the graphical interface at the client device via an application programming interface (API) to enable the customer to provide a first selection of a payment plan to associate with the loan, and to provide a second selection of a repayment method for making payments on the loan,
 wherein the first and second selections are defined as a default mode associated with processing the transaction and each subsequent transaction responsive to selection of a graphical element for acceptance of the default mode, and   wherein if the graphical element for acceptance of the default mode is not selected, the graphical interface is presented for modification of the first selection or the second selection.   
     
     
         22 . The apparatus of  claim 4 , wherein selecting the payment plan comprises selecting from among graphically displayed options at the client device, the options including:
 a buy now pay later loan option;   a split pay option; and   an interest bearing loan.   
     
     
         23 . The method of  claim 11 , wherein setting up the customer account comprises generating the graphical interface at the client device via an application programming interface (API) to enable the customer to provide a first selection of a payment plan to associate with the loan, and to provide a second selection of a repayment method for making payments on the loan,
 wherein the first and second selections are defined as a default mode associated with processing the transaction and each subsequent transaction responsive to selection of a graphical element for acceptance of the default mode, and   wherein if the graphical element for acceptance of the default mode is not selected, the graphical interface is presented for modification of the first selection or the second selection.   
     
     
         24 . The method of  claim 14 , wherein selecting the payment plan comprises selecting from among graphically displayed options at the client device, the options including:
 a buy now pay later loan option;   a split pay option; and   an interest bearing loan.